The Analytical Overview of the Main Currency Pairs on 2017.11.22

The EUR/USD currency pair

Technical indicators of the currency pair:

Prev Open: 1.17329

Open: 1.17383

% chg. over the last day: +0.09

Day's range: 1.17323 – 1.17711

52 wk range: 1.0341 – 1.2069

The technical pattern on the EUR/USD currency pair is still ambiguous. At the moment, the price is testing the local resistance level of 1.17600. The nearest support is at 1.17250. Investors took a wait-and-see attitude before the publication of the FOMC protocols, which may indicate further rates of tightening of the Fed's monetary policy. We recommend opening positions from the key levels.

The news feed on the US economy for 2017.11.22:

- Statistics on orders for durable goods at 15:30 (GMT+2:00);

- The number of initial jobless claims at 15:30 (GMT+2:00);

- The indices of consumers' expectations and sentiment from the University of Michigan at 17:00 (GMT+2:00);

- Publication of the FOMC protocols at 21:00 (GMT+2:00).

At the moment, indicators point to the power of buyers. The price has fixed above 50 MA and 200 MA.

The MACD histogram has begun to rise and moved to the positive zone, which signals an increase in EUR/USD.

Stochastic Oscillator is close to the overbought zone, the %K line is above the %D line, which gives a weak signal to buy EUR/USD.

Trading recommendations

Support levels: 1.17250, 1.16750

Resistance levels: 1.17600, 1.18000, 1.18500

If the price fixes above the local resistance level of 1.17600, we recommend considering buying EUR/USD. The movement is tending to 1.18000-1.18250.

Alternative option. If the price fixes below 1.17250, you need to look for entry points to the market to open short positions. The target movement level is 1.17000-1.16750.

The GBP/USD currency pair

Technical indicators of the currency pair:

Prev Open: 1.32316

Open: 1.32371

% chg. over the last day: +0.09

Day's range: 1.32324 – 1.32616

52 wk range: 1.1450 – 1.3618

The GBP/USD currency pair continues to be traded in the flat. The technical pattern is still ambiguous. Investors expect additional drivers. At the moment, the key support and resistance levels are 1.32200 and 1.32600 respectively. Positions should be opened if the price fixes above/below these markers.

We recommend paying attention to economic reports from the USA.

GBP/USD has fixed near 50 MA, which is quite strong dynamic support.

The MACD histogram is located in the positive zone and above the signal line, indicating a bullish sentiment on GBP/USD.

Stochastic Oscillator is in the neutral zone, the %K line is below the %D line, which sends a signal to sell GBP/USD.

Trading recommendations

Support levels: 1.32200, 1.31750, 1.31350

Resistance levels: 1.32600, 1.33000

If the statistics from the US turns out to be weak, purchases on the GBP/USD currency pair may prevail. The target movement level is 1.33000-1.33250.

An alternative may be the fall of GBP/USD to 1.32200-1.32000.

The USD/CAD currency pair

Technical indicators of the currency pair:

Prev Open: 1.28191

Open: 1.27776

% chg. over the last day: -0.36

Day's range: 1.27507 – 1.27877

52 wk range: 1.2059 – 1.3795

Yesterday, the USD/CAD currency pair held the key offer zone of 1.28200-1.28350, which caused the bearish sentiment. The Canadian dollar added more than 50 points. At the moment, the price is testing the local demand zone of 1.27500-1.27600. The nearest resistance is the level of 1.27850. The trading instrument has the potential to further reduce. We recommend paying attention to economic reports from the USA.

Today, the news background on Canada's economy is calm.

The indicators do not send accurate signals. The price has fixed between 50 MA and 200 MA, which are strong dynamic levels of support and resistance.

The MACD histogram is located in the negative zone and below the signal line, which indicates the bearish sentiment on USD/CAD.

Stochastic Oscillator is in the neutral zone, the %K line is below the %D line, which also gives a signal to sell USD/CAD.

Trading recommendations

Support levels: 1.27500, 1.27150

Resistance levels: 1.27850, 1.28200

If the statistics from the US turns out to be weak, we expect a further drop in the USD/CAD quotes. The target movement level is 1.27150-1.27000.

An alternative may be the growth of the USD/CAD currency pair to the level of 1.27850-1.28200.

The USD/JPY currency pair

Technical indicators of the currency pair:

Prev Open: 112.611

Open: 112.444

% chg. over the last day: -0.25

Day's range: 111.951 – 112.496

52 wk range: 99.53 – 118.67

At the moment there are aggressive sales on USD/JPY. The price has reached a round level of 112.000. The local resistance is 112.300. We do not exclude the further fall of the USD/JPY quotes. Investors are waiting for the publication of the FOMC protocols. We also recommend paying attention to the economic reports and the yield of US government bonds.

The news background on the economy of Japan is calm today.

The indicators signal the power of sellers. The price has fixed below 50 MA and 200 MA.

The MACD histogram is located in the negative zone and continues to decline, which indicates a bearish sentiment on USD/JPY.

Stochastic Oscillator reached the oversold zone, the %K line is below the %D line, which gives a weak signal to sell USD/JPY.

Trading recommendations

Support levels: 112.000, 111.500

Resistance levels: 112.300, 112.600, 113.100

If the price fixes below the round level of 112.000, we recommend considering selling USD/JPY. The movement is tending to 111.500-111.250.

Alternative option. If the USD/JPY quotes overcome the level of 112.300, it is necessary to search for entry points to open long positions. The target movement level is 112.600-112.850.

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer,
and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.